English please

[MomofDisneyLoversx3]

I have read many posts, threads, google searches, etc and am still confused. Could someone explain in PLAIN English the steps necessary if I am interested in buying DVC points via resale. If there is already a thread in plain English a link to that would be great also.

Tia Heather

 

[DannysMom]

You can keep reading in this forum, pretty much everything about buying is eventually discussed. The Timeshare Store (board sponsor) Hassan informative FAQ too. http://www.dvc-resales.com/faq.htm

Sent from my iPad using DISBoards App, please excuse any typos or autocorrects!

 

[Brian Noble]

Could someone explain in PLAIN English the steps necessary if I am interested in buying DVC points via resale.

I know that if I ask this, I'll be That Guy, but if you don't understand the terms used in the process, are you sure you are ready to spend thousands or tens of thousands of dollars buying points, and many tens of thousands more on annual dues?

 

[DizBub]

I have read many posts, threads, google searches, etc and am still confused. Could someone explain in PLAIN English the steps necessary if I am interested in buying DVC points via resale. If there is already a thread in plain English a link to that would be great also.

Tia Heather

In plain English....

Visit resale sites and find a contract that you like. You need to determine what resort, Use Year, number of points you require, etc.

You contact the resale company and make an offer on a contract. Negotiate if necessary and when a deal is reached you will get documents to sign. Send the docs back with a deposit, $500/$1000. Wait for the sellers to sign their documents and then the contract will get sent to Disney for ROFR. That takes 30 days, give or take. If Disney takes the contract through Right Of First Refusal you are done and you have to start all over again. Find a new contract and repeat.

If it passes ROFR then the contract goes through an estoppel process, get recorded with the County Recorder then is entered into the DVC system and then you are able to set up your account and book your first vacation.

If all things go smoothly the whole process should take 60 days.

 

[MomofDisneyLoversx3]

Thank you DizBub. That was exactly what I was looking for. I have actually read (and understood) the legalese for direct buy, but until starting to visit this area of the boards did not realize resale was a valid alternative.

 

[MomofDisneyLoversx3]

And Brian -- yup, you are that guy. Thanks for the helpful reply.

 

[ELMC]

Thank you DizBub. That was exactly what I was looking for. I have actually read (and understood) the legalese for direct buy, but until starting to visit this area of the boards did not realize resale was a valid alternative.

This piece of information is very helpful. Think of it like this: as far as the process goes, buying direct and buying resale is fairly similar. The main difference between the two is that when you buy direct, the salesperson will try to steer you into a minimum point requirement, one or two resorts and possibly one or two specific use years. When you buy resale you can choose any amount of points (from what's available), any resort and any use year. What you sacrifice in efficiency (resale purchases typically take 2 months longer than direct purchases) you more than make up for in flexibility and savings. Helpful?

 

[MomofDisneyLoversx3]

Thanks ELCM

We almost bought in (direct) instead of paying cash for our recent trip but didn't for a myriad of reasons. I'm glad I discovered resale so I can understand and evaluate all of my choices.
Funny the CM I talked to about DVC never mentioned resale

 

[DizBub]

Funny the CM I talked to about DVC never mentioned resale

And they won't. If you bring it up they will just try to scare you with the lame restrictions they have put on resales and rumors of more to come. Buy resale before any new set of resrtictions and you will be grandfathered into the current system.

 

[chalee94]

Funny the CM I talked to about DVC never mentioned resale

disney and their salespeople don't make any money if you buy resale, so yeah, they'd rather not encourage that sort of behavior.

 

[Missyrose]

And they won't. If you bring it up they will just try to scare you with the lame restrictions they have put on resales and rumors of more to come. Buy resale before any new set of resrtictions and you will be grandfathered into the current system.

I think it might be better to say that the hope is current owners would be grandfathered into any new changes. There remains a possibility that they may continue to use the March 2011 date as the way to separate restricted resale from non-restricted resale. Just don't want people to think being grandfathered in is a 100 percent guaranteed lock.

 

[DizBub]

I think it might be better to say that the hope is current owners would be grandfathered into any new changes. There remains a possibility that they may continue to use the March 2011 date as the way to separate restricted resale from non-restricted resale. Just don't want people to think being grandfathered in is a 100 percent guaranteed lock.

Of course, you are right. Just because they grandfathered resales prior to March 2011 last time does not mean they will "do the right thing" again. Some of the stuff they've been pulling lately is making this painfully obvious.

Buyer beware, I guess.

 

[ELMC]

I think it might be better to say that the hope is current owners would be grandfathered into any new changes. There remains a possibility that they may continue to use the March 2011 date as the way to separate restricted resale from non-restricted resale. Just don't want people to think being grandfathered in is a 100 percent guaranteed lock.

Of course, you are right. Just because they grandfathered resales prior to March 2011 last time does not mean they will "do the right thing" again. Some of the stuff they've been pulling lately is making this painfully obvious.

Buyer beware, I guess.

Hopefully Dean will step in with a legal opinion on this, but I tend to agree with these posts. I think that the precedent was set to restrict resales after 2011 and that these restrictions can include but are not limited to the restrictions set forth at that time. I do not believe that DVD will create new date marks each time they wish to introduce a new round of restrictions. I think that they will simply revert back to the March 2011 date.

 

[JimMIA]

I have read many posts, threads, google searches, etc and am still confused. Could someone explain in PLAIN English the steps necessary if I am interested in buying DVC points via resale. If there is already a thread in plain English a link to that would be great also.

Tia Heather

In plain English, what part of it don't you understand?

 

[heynowirv]

In plain English, what part of it don't you understand?

Jim,
Go back to sleep,i thinks she's all caught up now

 

[MomofDisneyLoversx3]

To everyone that replied helpfully, thank you. To the snarky replies--you are welcome to keep your thinly veiled comments that I'm to stupid or uninformed to make this decision to yourself.

When a major corporation attempts to sell you something and you then discover it can be done 'off the grid' so to speak, it can be confusing. I wanted to make sure I had everything straight. Some of the resources I looked at were vague. As this is a board full of people with first hand experience I wanted to pick the brains and get first hand information.

 

[Deb & Bill]

To everyone that replied helpfully, thank you. To the snarky replies--you are welcome to keep your thinly veiled comments that I'm to stupid or uninformed to make this decision to yourself.

When a major corporation attempts to sell you something and you then discover it can be done 'off the grid' so to speak, it can be confusing. I wanted to make sure I had everything straight. Some of the resources I looked at were vague. As this is a board full of people with first hand experience I wanted to pick the brains and get first hand information.

You really need to do more homework. JimMIA is one of the more informed members who provides lots of great information about DVC.

Ask specific questions and you get specific answers. Ask vague questions and you either get requests for more specifics or suggestions to do more homework and come back with questions.

Oh, and it is very difficult to get AKV Concierge villas at less than 11 months out exactly.

 

[Discomom703]

To everyone that replied helpfully, thank you. To the snarky replies--you are welcome to keep your thinly veiled comments that I'm to stupid or uninformed to make this decision to yourself.

When a major corporation attempts to sell you something and you then discover it can be done 'off the grid' so to speak, it can be confusing. I wanted to make sure I had everything straight. Some of the resources I looked at were vague. As this is a board full of people with first hand experience I wanted to pick the brains and get first hand information.

I'm glad you found more about resale... its definitely the way to go.. specifically for use only on DVC resorts. We almost bought direct when in 2011 for Aulani, then found resale. We are now happy owners of SSR and BLT contracts - both resale purchase.

I read many posts here.. lots of people have lots of opinions but these veterans are always making sure that newbies like us do think about the true costs. it is a long term commitment.. the buy in cost can be cheap... and/or can be financed for a few years.. but its the maintenance fees that we do get stuck for the life of the contract.

Few things i've learned: 1) Buy where you do not mind staying.. or Buy where you love to stay 2) DVC can place restrictions in the future so just beware -- 3) Understand your Use Year and choose what would make sense with your vacationing habits.. (a definite must READ) 4) Do not buy too many points that you can't handle.. better to keep is small and add on later 5) Dont assume that you can rent your points it to make profit .. but yes you can rent your points to help offset costs (either towards MF, loan financed, or to use for cruises) 6) Buying direct may work for specific small contracts and with specific use year 7) Better to buy smaller contracts or split contracts than large ones in case you need to offload in the future 8) and if you ADD on.. most suggest to have the Same UY so its easier (but not impossible) to manage your points..

I hope you got your information you need.. I've learned A LOT from these veterans... when they ask questions .. they do not mean to be mean or think you do not understand or that you're beneath them.... they just want to DRIVE the right info so that most newbies can buy with the BEST information they have and not waste any money.. Goodluck!

 

[lodge]

I think owners of DVC are similar to owners in a neighborhood. We get to know one another and respect the vast amount of knowledge shared.

There seems to be more kindness and respect for those around awhile, as opposed to DCL DIS where there are so many more "renters".... just an observation.

 

[CarolMN]

Hopefully Dean will step in with a legal opinion on this, but I tend to agree with these posts. ....(snip).......

I respect and value Dean's opinions, too (although I do occasionally disagree with him, lol). But maybe you meant "expert" or "experienced" instead of "legal"?

We do have lawyers who post here, but Dean is not one of them. (And he has never claimed to be one).